Gulf starts at Sheikh Adi-2 25/05/2012
Iraq-focused oil explorer Gulf Keystone Petroleum (GKP) has begun drilling at the Sheikh Adi-2 well in the Sheikh Adi block.
DDD dreams of 3D
3D specialist DDD Group (DDD) has reported a 140 per cent increase in sales amidst rising shipments of its technology.
The AIM-quoted concern declared a loss before tax of $387,000 (2010: $537,000) on turnover of $2.3 million for the six months to June. The loss per share stood at 0.64 cents while net cash fell from $5.1 million to $3.3 million.
The company, which makes money through the use of its technology in the television and gaming industries earlier this month announced that it had signed an agreement with an unnamed PC maker worth $1 million to use its Tridef software.
In an interview with Growth Company Investor chief executive Chris Yewdall enthused that DDD was 'Spreading into markets such as PC and mobile phones' adding that it had recently reported its 'largest deal to date'. Regarding the future of the 3D market he said growth would come both from further sales to the television market and the increasing interest in 3D technology in China.
'In China there are over 200,000 internet cafes, the biggest of which have over a thousand people.' Yewdall noted the Chinese market is increasingly keen on playing in 3D. 'In China young guys go and play games in internet cafes the same way people in the west might play games on their Xbox' he maintained.
Analysts at paid-for research house Edison are forecasting pre-tax losses of $300,000 (EPS: 0.6p) on turnover of $5.5 million for the year to December 2011. In 2012 profits of $1.6 million (0.1p) on sales of $8 million are penciled in.
Last recommended by Growth Company Investor this August at 28.75p the shares currently trade at 27.25p. The company is making considerable progress towards reporting maiden profits with Chinese interest in 3D gaming likely to help its chances of success. We retain our speculative buy rating.
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